MasterCard held its Innovation Showcase in conjunction with its annual Investor Day last week, during which the company showcased a number of innovations aimed at redesigning the consumer shopping experience.
Among the innovations presented, MasterCard introduced the MasterPass digital wallet, which will allow consumers to purchase products directly from Intel’s Virtual Shopping Experience—a virtual 3D fitting room app. The company also demonstrated how wearable devices will change the way consumers shop and make purchases, as well as how merchants interact with customers.
The company also demonstrated its QkR app, a smart ordering service that allows consumers to pay for products and services remotely, as well as its Qantas Cash loyalty card for Qantas Airlines customers, a fuel rewards network, a “digital” food-buying program and an e-commerce payment application.
“The digital lifestyle is radically altering the day-to-day shopping experience, and habits, of consumers,” Ed McLaughlin, the chief emerging payments officer at MasterCard, said. “As a result, consumers will now shop and pay in whatever way best fits their needs and lifestyles, from every device they have, with a simple tap, click or touch at the register, in the aisle, at home, on the go – or anywhere else. We continue to lead this transition to digital and deliver the next, best and most innovative solutions to meet the needs of consumers and merchants.”
Following the company’s Investor Day, analysts at FBR Capital increased their price target and earnings estimates for MasterCard. The analysts reiterated their “outperform” rating for MasterCard and estimated shares will reach $690, compared to the previous target of $640, Dividend.com reports.